N26 now reached more than €1 billion in monthly transaction volume and more than 1 million customers – The Mobile Bank has doubled its customer base in 9 months

N26, one of the fastest growing mobile banks in Europe, now serves  more than one million customers across the continent. It has doubled its customer base over  the last nine months. The monthly transaction volume exceeds €1 billion, signaling high levels  of user activity and engagement. These numbers confirm that the retail banking industry is  undergoing a rapid transformation.

N26 is meeting customers’ expectations with its state-of-the-art, mobile-first user experience that simplifies everyday financial decisions. Since the product launch in 2015, the N26 community has been growing rapidly, with now more  than 2,500 new users joining every day. The primary motivation for people to use The Mobile Bank is to experience banking in a hassle-free manner while also saving a lot of time and  money.

„Following this path, N26 estimates it will reach more than five million customers by  2020. The next logical step after the great success within the eurozone, is further international  expansion. A market entry into the UK and US is planned for later this year.”, according to the press release.

“We have built the first mobile bank customers love to use. With N26 customers save time as  well as millions of euros in hidden fees every year,” states Valentin Stalf, founder and CEO of  N26.

N26 is a mobile-first retail bank that is designed entirely for the smartphone at the forefront of  financial innovation. N26 appeals to anyone seeking a simple, ​transparent, and customer-centric alternative to traditional banks. ​Customers across Europe especially value the simplicity of  opening a bank account in under eight minutes, sending money to their friends in real time,  accessing the latest mobile payment solutions, and much more.

All N26 accounts come with a  Mastercard that grants customers the best exchange rates for shopping all around the world.  A typical N26 customer uses the app several times per week. This high activity also materializes in more than €1 bn transaction volume per month.

Later this month, N26  will officially launch its flagship premium Metal card. Additional features and services will be  released in the following weeks.